Illinois § 16.5 Employment of persons with convictions

Illinois Statutes

§ 16.5 — Employment of persons with convictions

Illinois § 16.5

TopicREGULATION

Ch. 205FINANCIAL REGULATION

Act 205 ILCS 5/Illinois Banking Act.

This text of Illinois § 16.5 (Employment of persons with convictions) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

205 Ill. Comp. Stat. 16.5 (2026).

Text

Except with the prior written consent of the Commissioner, no State bank shall knowingly employ or otherwise permit an individual to serve as an officer, director, employee, or agent of the State bank if the individual has been convicted of a felony or of any criminal offense relating to dishonesty or breach of trust. Notwithstanding the provisions of this Section, a State bank in compliance with the provisions of 12 U.S.C. 1829 and administrative regulations issued under 12 U.S.C. 1829 by the State bank's primary federal financial institution regulator shall be deemed in compliance with this Section.

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Except with the prior written consent of the Commissioner, no State bank shall knowingly employ or otherwise permit an individual to serve as an officer, director, employee, or agent of the State bank if the individual has been convicted of a felony or of any criminal offense relating to dishonesty or breach of trust. Notwithstanding the provisions of this Section, a State bank in compliance with the provisions of 12 U.S.C. 1829 and administrative regulations issued under 12 U.S.C. 1829 by the State bank's primary federal financial institution regulator shall be deemed in compliance with this Section.